The E-Sylum: Volume 4, Number 35, August 26, 2001, Article 9
THE WIZARD OF OZ IN NUMISMATICS
Last's week's discussion of the new Schornstein book on
Bryan Money raised a number of questions about the origin
of the theory regarding parallels to the 1890's gold and silver
question in L. Frank Baum's Wizard of Oz.
Bill Bischoff writes: "For what it's worth, I discussed with
Walter Breen by telephone in the early spring of 1989 the
possibility that he might be willing to talk at the forthcoming
COAC on gold, which I was then involved in organizing. We
talked for at least an hour, and all the allegories you mention
were already part of his conceptual framework. So, unless he
was in contact with Hugh Rockoff, Breen's ideas go back to
"an article titled 'The Wizard of Oz: Parable on Populism' by
Henry M. Littlefield in American Quarterly 16 (Spring 1964),
pp. 47-58." I don't know if Rockoff cites Breen, but it would
have been appropriate, since Breen's remarks were delivered
in the late fall of 1989, before the Rockoff book came out."
Mark Rabinowitz writes: "In this issue of the E-Sylum, my first
via regular distribution, you have a note about the Wizard of Oz
parallels which raises some interesting questions. A book I just
finished, Peter L. Bernstein's "The Power of Gold: The History
of an Obsession" (which, by the way, I heartily recommend to
E-Sylum readers if they have not already read it), also notes the
parallels and cites the same Rockoff article. In addition to the
Yellow Brick Road representing the Gold Standard and the
other parallels you mentioned, Bernstein also notes the following:
Land of Oz (ounce) = the east, "where gold is the favorite"
The cyclone which comes from the west = the movement for
unlimited coinage of silver
Dorothy = the plucky, kindhearted American who represents
the little people against the moguls of finance
Emerald City = Washington
The Wizard = the personification of humbug
Unfortunately I don't have the answers to the questions you
raised, but thinking about this some more, I have another
question: is it merely a coincidence that just a year or so after
the U.S. went off gold in 1971, freeing all currencies to float,
Elton John released the song, "Goodbye Yellow Brick Road?"
"Oh, I've finally decided my future lies / beyond the yellow
brick road."